Tata given until 2016 to meet solar power targets in India

Tata Power, India’s largest integrated power company, will not have to meet annual solar power targets set by the government until 2016. The Maharashtra Electricity Regulatory Commission (MERC) has approved Tata's petition to delay its deadline to meet annual renewable energy requirements, Bloomberg reported. Fines typically associated with failing to meet these government mandates have also been suspended.

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The Indian government requires electricity distributors and industrial companies to have approximately 10 percent of their annual energy needs provided by renewable sources. However, Tata said it has not been able to source enough solar power to meet those requirements.

While government targets call for 3.5 gigawatts (GW) of solar generation, Tata has said there is an "inherent shortage of solar generating capacity" in India, with only 1.44 GW available in the country.

Tata filed its petition with the government on Oct. 23, and the MERC held a hearing on the issue Dec. 4. The regulatory commission said Tata was only able to meet 12 percent of its solar targets. The utility was given until financial year 2015-16 to meet five years worth of targets.

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